BenjaminPimentel

Micron
MU, -1.98%
reported a loss of 34 cents per share, compared with a profit of $115 million, or 15 cents per share, for the year-ago period.

The chipmaker also reported revenue of $1.54 billion for the period ended Nov. 29, compared with revenue of $1.53 billion for the same period last year.

Analysts had expected Micron to report a loss of 20 cents per share on revenue of $1.49 billion, according to Thomson Financial.

The Boise, Idaho-based company said its revenue rose from the fourth quarter when it reported sales of $1.44 billion. Micron said the sequential increase was due to "significant sales volume increases" in its memory products both for DRAM, chips used for personal computers, and NAND Flash, which are found in cell phones and mp3 players.

But Micron said the company's results were also affected by industry-wide "supply/demand dynamics." The chip industry has been reeling from a glut in memory chips, which has led to declining prices.

Early this week, several analysts expressed concerns about the impact of falling prices on the company's financials.

Intraday Data provided by SIX Financial Information and subject to terms of use.
Historical and current end-of-day data provided by SIX Financial Information.
All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only.
Intraday data delayed at least 15 minutes or per exchange requirements.